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In the takeover dispute of the private foundation B & C, B & C cuts all commercial links with Bank Austria. "Mr Tojner has signed an agreement with UniCredit, whose content is already known in the media, so it is clear that we must leave the UniCredit subsidiary in Austria with our bank accounts," said Wolfgang Hofer, director of B & C in the "industrial magazine".
"The process of separating our customer relationship has already begun," Hofer said in an interview published Monday. Not only B & C's accounts are affected, but also those of Lenzing, AMAG and Semperit. "The holding company and our companies have an international business and are still dealing with complex financial projects.We can not afford any transaction in which Milan risks at the last minute to wait in between."
As indicated by the "trend", hundreds of millions of euros are transferred to the accounts of other banks. Last week, it was learned that investor Michael Tojner wanted to take control of the private B & C foundation with leading partners and with the help of Bank Austria's parent company, UniCredit. The B & C defends itself against the "hostile takeover" from their point of view.
The B & C Foundation was founded in 2000 by Bank Austria and paid 1.2 billion euros to UniCredit in 2008 for the transfer of participation rights. B & C currently owns 50% plus two shares of Lenzing AG, 54.2% of Semperit AG and 52.7% of AMAG Austria Metall AG.
(APA)
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